Gain Managed Service Solutions From Ecommerce Fraud Prevention Companies

With more businesses joining the online marketplace and the number of payment sectors increasing at a hefty rate, e-commerce fraud is also likely to grow. But fraud is something that your e-commerce business won’t be able to afford. Some statistics have shown that chargebacks will cost merchants around $11.3 billion in the lost revenue as marked in 2015. Later, around $118 billion was there on the table in 2014 because of the false declines.

Protecting your business from fraud cases:

One of the proven and best ways to prevent your business from any financial fraud is by preventing it from happening ever again in the first place. For that, you can easily implement a comprehensive solution, which will always keep you at the top of some of the evolving fraud patterns. It will help in removing your liability for updating the solutions and helping you to manage the main KPIs and more.

It is highly critical to select the right options from so many managed services and outsourced solutions. That’s when the eCommerce fraud prevention companies come to the rescue. The proper decision will not just benefit your business but will improve the current bottom line as well.

Why opt for the managed service solutions from e-commerce fraud prevention firms?

Now, there are various e-commerce fraud prevention companies available these days, and it is mandatory to get managed service solutions from their sides. While you are planning to implement such solutions, there are some benefits coming your way!

Simplify your management routine:

Managed service solutions will actually remove any burden of updating the tools and hen adapting to the evolving form of fraud attacks. It will help the businesses to shift their focus completely towards managing the balance of the major KPIs like the approval times, chargeback rents, and approval rates, to name a few.

Adding up some extra tools:

Added fraud prevention tools will be well integrated into managed service solutions once you have chosen help from the fraud management firms. It will give rise to a comprehensive solution.

• On the other hand, you can outsource the responsibility of adding up new tools.

• Moreover, you can update the present solution to some of the major business scenes.

• It will remove the entire fraud liability from your said e-commerce business.

Optimize your decisions:

Well, it might be shocking for you to know that fraud-managed services are not going to reject transactions automatically. On the other hand, they are subject to make some of the significant recommendations after going through a comprehensive review of every piece of the transactional information, as mentioned on the flagged transaction!

Complementing the existing fraud preventing teams:

Thanks to the managed service solutions, there is no need for you to replace the in-house fraud management department in case you have any already existing.

• Some of the providers will readily prefer to work alongside in-house fraud managers.

• It will provide them with the perfect access to company representatives right with the much-needed business insight.

No need to create fraud management standard operation process of SOPs:

Your chosen reliable managed service solution will come in handy with its own SOPs.

• It clearly means that you don’t have to invest extra money or time to establish any SOP of your own.

• Another interesting benefit is that the managed service solution will get to work on protecting the business against fraud.

Dedicated outside team to manage the entire scene:

The trained and experienced managed service team will always remain at the top of the list and will provide details on the latest attack methods. Their main focus will lie on the ways to protect businesses. It will help the management team to come and concentrate on the major business tasks and not quite on fraud prevention. 

Less false declines:

Whenever you are dealing with a multilayered fraud protection plan, it will use comprehensive data for identifying the fraud behavior.

• The main goal here is to prevent any form of the suspicious transaction from getting processed.

• It will remove the fraud liability of a business as well.

• As the transactional decisions are made in real-time, it will offer a seamless online based ordering experience for customers out there.

Identify the e-commerce fraud first:

In case you own a large-scale business, you might need the help of software for detecting fraudulent e-commerce orders. It might be hard for you to handle a number of the daily orders manually. In some of the other cases, you have to pay attention to some indicators, which will not just help you to save money but market reputation.

Look for the order information to remain consistent. If you feel inconsistency, then you better watch out for the fraud detection team for help. Even the location of regular customers matters to focus on fraud cases. Let the experts help you out in this venture.